The index has recorded growth for the third consecutive quarter.
The HKTDC Export Index has seen an 11.1-point increase to 36.2 in Q4, according to its publisher Hong Kong Trade Development Council (HKTDC), recording a hike for the third consecutive quarter.
According to HKTDC assistant principal economist for Greater China Alice Tsang, there has been a “broad improvement across all major industries”, with the jewellery sector logging the strongest rebound from 20.1 to 33 points.
“However, the index remains in contraction territory, indicating that uncertainties have cast a shadow on the short-term export outlook; amongst other issues, the survey showed that the pandemic (54.9%), declining global demand (23.8%), and escalated trade tensions between the United States and Mainland China (9.6%) are the major concerns for Hong Kong exporters," added Tsang.
Meanwhile, 60% of surveyed exporters for the index expect sales to rise or remain flat next year.
With these factors in consideration, the HKTDC forecasts Hong Kong’s exports to grow 5% by value YoY in 2021.
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